NavigatIIR: LyondellBasell Slowly Resumes Work on Texas PO/TBA Project

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Researched by Industrial Info Resources (Sugar Land, Texas)--Like other chemical and refining companies, LyondellBasell Industries NV (NYSE:LYB) (Houston, Texas) has been jolted this year by the COVID-19 pandemic and its economic fallout.

Earlier this year, the company slashed $500 million from its capital-spending budget. For the just-ended third quarter, it saw earnings plunge 88% from the same period last year.

Industrial Info is tracking $5.35 billion in active capital-spending projects from LyondellBasell, including its $1.9 billion propylene oxide and tertiary butyl alcohol (PO/TBA) unit addition at its olefins facility in Channelview, Texas, which is now expected to be completed a year later than originally planned due to the pandemic.

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